Consultant Financial Screening
Financial Screening
Financial Screening is required for firms interested in becoming eligible for UDOT Consultant Services contracts as prime or subconsultants, per 2 CFR Part 200 Subpart E (Cost Principles) and 48 CFR Part 31 (Federal Acquisition Regulations (FAR)). Please contact Audrey R. D’Ambruoso at (801) 965-4138 or adambruoso@utah.gov with questions or inquiries regarding the financial screening process.
Consultants will need to be financially screened to the level required by the type of contract and services they will be performing. A firm does not have to have an approved financial screening to be selected for a contract, but must have financial screening approval in order to have a contract awarded.
The purpose of financial screening is to provide reasonable assurance that the consultant’s financial statements, presented Indirect Cost Rate (ICR), hourly billing rates, and direct costs comply with 2 CFR Part 200 (Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Federal Acquisition Regulations Part 31), and Utah Rule R907-66-7(2) (Consultant Financial Screening and Auditing).
Per Utah Administrative Rule R907-66-7 (2) (Consultant Financial Screening and Auditing), consultants are required to submit their firm’s financial screening application (including all required supporting documents) within 90 days of their most recent fiscal year-end or 60 days prior to the anniversary date of their previous financial screening application approval, whichever occurs first. Consultants that require an extension may send a request to csscreening@utah.gov for consideration.
The financial screening process consists of verification, risk assessment, desk review, and audit procedures as necessary to:
- Accept a firm’s presented indirect cost rate(s), or
- Recommend adjustments to presented rate(s) in order to accept compliant rate(s), or
- Develop/provide rate(s) to new entities that do not have an existing financial history, or
- Develop/assign acceptable rate(s) for non-compliant consultant presentations, or
- Reject presented rate(s) when processes listed above do not result in reasonable assurance of compliance, or
- Provide financial screening approval for firms that do not present/ require indirect cost rate(s).
Consultant Financial Screening Documents
- (1) IRS W-9 Request for Taxpayer Identification Number and Certification
- (2) FHWA 4470 Certificate of Indirect Costs
- (3) Financial Screening Application
- (4) State of Utah Vendor information Form
- (5) UDOT Management Certification of Accounting System
- (6) AASHTO internal Control Questionnaire (ICQ) Word version
- (6) AASHTO internal Control Questionnaire (ICQ) PDF version
- (7) UDOT Modified Internal Control Questionnaire (ICQ
- (8) UDOT Allocation of Expenses table
- (9) 2021 National Compensation Matrix (For Use With 2020 Revenue)
- (9) 2020 National Compensation Matrix (For Use With 2019 Revenue)
- (9) 2019 National Compensation Matrix (For Use With 2018 Revenue)
- TEMPLATE – ICR Schedule
- (A) New Financial Screening Application Guidance
- (B) New Financial Screening Application Guidance (ROW ACQ Consultants)
- Federal Acquisition Regulations – Quick Reference
- 2016 AASHTO Uniform Audit & Accounting Guide
UDOT Guidance on PPP Loans for Consultant/A&E Firms
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and The Appropriations Act, 20213 provided for PPP loan funds during the pandemic period of economic emergency. Section 1106 of the CARES Act provided forgiveness of up to the full principal amount of qualified loans under the PPP Program.
In response to requests for guidance on how to account for PPP loan amounts and any associated loan forgiveness amounts within a consultant’s indirect cost/overhead rate submission, UDOT has published the following document:
UDOT Guidance for Consultant Firms Regarding Paycheck Protection Program (PPP) Loan Forgiveness